STATEMENT: Not One Penny Reacts To Paul Ryan’s Remarks At Southwest Airlines Headquarters

FOR IMMEDIATE RELEASE:
Monday, April 2, 2018

PRESS CONTACT:
press@notonepenny.org

• Southwest Airlines saw a $1.4 billion benefit from the GOP tax bill in 2017. With its effective tax rate falling from 36-37 percent in previous years to an expected 23.5 percent in 2018, the company should see at least a $400 million tax cut this year.

• Southwest Airlines saw its net income rise to $1.89 billion or $3.18 per share, in the quarter that ended on December 31, 2017 from $522 million, or $0.84 per share, a year earlier.

• Southwest Airlines CEO Gary Kelly said that the savings from the GOP tax bill would go towards new planes and share buybacks.

Washington, D.C. — In response to House Speaker Paul Ryan’s remarks at Southwest Airlines headquarters, Not One Penny spokesperson Tim Hogan released the following statement:

“Paul Ryan should sit down with working families across the country and explain why corporations are receiving billions in tax benefits, while the middle class waits for the jobs and wage increases that haven’t materialized. Some of the wealthiest corporations have spent their tax savings lining the pockets of shareholders and Southwest Airlines is no different.”

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